Comparing Airwallex's monumental $100bn transaction volume.
In the dynamic world of global payments, Airwallex has made a notable mark, with an annualised transaction volume of over $100bn and a growing customer base of over 100,000 businesses worldwide. The company's annual revenue run rate is close to $500m, a testament to its success in the industry.
However, despite the impressive volumes, the gap in revenue between Airwallex and competitors like Payoneer and Wise Business is not as pronounced. Payoneer reported revenues of $900m for the 12 months to the end of June, despite having lower volume and less than 15% of Airwallex's transactional volume. Wise Business, on the other hand, reported $309m revenue for the same period with around 10% of Airwallex's transactional volume.
Airwallex's volume growth is likely to have come from existing customers rather than new ones, indicating a strong focus on customer retention and satisfaction. The company's CEO, Jack Zhang, stated that Airwallex is focusing on becoming a "single operating system" for global businesses, aiming to simplify complex financial operations for businesses of all sizes.
Airwallex has rolled out multiple solutions over the past few years, including Airwallex for Startups and payment acceptance in the US. The company has also reported growing volumes across all products, including payments, FX, payouts, and issuing.
Meanwhile, Payoneer's Business segment had a VPC of around $133,000 in the 12 months to 30 June 2024, while Wise's Business segment had a VPC of around $98,000 in the same period. However, other players in the industry, such as Flywire, have shown considerably higher VPCs.
The global payments market is a competitive landscape, with established leaders like ACI Worldwide, American Express, Mastercard, Visa, and Stripe, alongside innovative challengers like Airwallex, Adyen, FIS, Fiserv, and Swift. While Airwallex is not explicitly ranked in the Juniper Research Competitor Leaderboard covering 19 leading B2B platforms, it is recognised as a significant B2B payments player.
To obtain precise annualized transaction volume per customer figures for Airwallex versus the top B2B payment providers, access to proprietary market research data, such as full Juniper Research reports or vendor-disclosed financial/transaction metrics, would be required. The current public information outlines market positioning and capabilities but does not provide the numeric VPC comparison you requested.
For those interested in detailed market reports or understanding vendor disclosures on transaction volumes, guidance can be provided on where to seek such information.
In the global payments market, Airwallex's focus on becoming a "single operating system" for businesses aims to simplify complex financial operations, allowing it to compete with established players such as Payoneer, Wise Business, and innovative challengers like Adyen, FIS, Fiserv, and Swift. However, despite Airwallex's high transaction volume, the gap in revenue with competitors like Payoneer and Wise Business is less pronounced, with Payoneer reporting revenues of $900m and Wise Business reporting $309m, which is significantly higher than Airwallex's annual revenue run rate of close to $500m. This suggests that technology and business strategies, beyond just transaction volume, play a significant role in the finance sector.
